New inflation figures released show that rates remained unchanged last month, despite expectations they would drop.
The Office for National Statistics said Consumer Prices Index inflation (CPI) remained at 8.7 per cent in May - the same rate it was at in April. The ONS said rising prices for plane tickets, recreational, and cultural goods and services alongside second-hand cars contributed to the most to inflation.
Meanwhile, motor fuel costs placed the biggest downward pressure on inflation, the ONS said. The unchanged rate means the Bank of England may be more pressured to raise interest rates even further this month.
